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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2022

Investment Securities

Investment securities available for sale

(Dollars in thousands)
		December 31, 2022
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
U.S Treasuries		$	10,951				-				1,137				9,814
U.S. Government sponsored enterprises			12,245				-				706				11,539
Mortgage-backed securities			299,222				445				25,829				273,838
State and political subdivisions			184,768				91				34,656				150,203
Total		$	507,186				536				62,328				445,394

(Dollars in thousands)
		December 31, 2021
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
U.S Treasuries		$	7,964				-				75				7,889
U.S. Government sponsored enterprises			14,252				200				185				14,267
Mortgage-backed securities			218,402				1,769				3,019				217,152
State and political subdivisions			165,804				3,694				2,257				167,241
Total		$	406,422				5,663				5,536				406,549

current fair value and associated unrealized losses on investments in debt securities with unrealized losses

(Dollars in thousands)
		December 31, 2022
		Less than 12 Months								12 Months or More								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
U.S. Treasuries		$	2,878				104				6,936				1,033				9,814				1,137
U.S. Government sponsored enterprises			2,904				87				8,635				619				11,539				706
Mortgage-backed securities			128,241				8,740				120,464				17,089				248,705				25,829
State and political subdivisions			65,880				7,766				76,291				26,890				142,171				34,656
Total		$	199,903				16,697				212,326				45,631				412,229				62,328

(Dollars in thousands)
		December 31, 2021
		Less than 12 Months								12 Months or More								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
U.S. Treasuries		$	7,889				75				-				-				7,889				75
U.S. Government sponsored enterprises			5,232				15				3,263				170				8,495				185
Mortgage-backed securities			131,483				2,477				19,632				542				151,115				3,019
State and political subdivisions			80,076				1,981				5,922				276				85,998				2,257
Total		$	224,680				4,548				28,817				988				253,497				5,536

Amortized cost and estimated fair value of investment securities available for sale by contractual maturity

December 31, 2022
(Dollars in thousands)
		Amortized Cost				Fair Value
Due within one year		$	240				240
Due from one to five years			8,434				8,128
Due from five to ten years			58,540				49,599
Due after ten years			140,750				113,589
Mortgage-backed securities			299,222				273,838
Total		$	507,186				445,394

Fair value measurements of investment securities available for sale using Level 3 significant unobservable inputs

(Dollars in thousands)
		December 31, 2022
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
U. S Treasuries		$	9,814				-				9,814				-
U.S. Government sponsored enterprises		$	11,539				-				11,539				-
Mortgage-backed securities		$	273,838				-				273,838				-
State and political subdivisions		$	150,203				-				150,203				-

(Dollars in thousands)
		December 31, 2021
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
U. S Treasuries		$	7,889				-				7,889				-88.7
U.S. Government sponsored enterprises		$	14,267				-				14,267				-
Mortgage-backed securities		$	217,152				-				217,152				-
State and political subdivisions		$	167,241				-				167,241				-

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- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
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- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5B
-URI https://asc.fasb.org/extlink&oid=126970911&loc=SL120269825-111563

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
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-Section 50
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Tabular disclosure of unrealized gains and losses on investments.

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